PSP Research LLC Acquires New Position in Royalty Pharma PLC $RPRX

PSP Research LLC acquired a new stake in Royalty Pharma PLC (NASDAQ:RPRX) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 13,826 shares of the biopharmaceutical company’s stock, valued at approximately $534,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Trust Co. NA raised its position in shares of Royalty Pharma by 52.9% in the 4th quarter. Private Trust Co. NA now owns 832 shares of the biopharmaceutical company’s stock valued at $32,000 after purchasing an additional 288 shares during the last quarter. Smartleaf Asset Management LLC raised its position in shares of Royalty Pharma by 868.1% in the 3rd quarter. Smartleaf Asset Management LLC now owns 881 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 790 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Royalty Pharma by 31.9% in the 3rd quarter. Larson Financial Group LLC now owns 1,264 shares of the biopharmaceutical company’s stock valued at $45,000 after purchasing an additional 306 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Royalty Pharma by 16.9% in the 3rd quarter. Fifth Third Bancorp now owns 2,499 shares of the biopharmaceutical company’s stock valued at $88,000 after purchasing an additional 362 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of Royalty Pharma in the 3rd quarter valued at approximately $100,000. 54.35% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Terrance P. Coyne sold 34,791 shares of the business’s stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $49.78, for a total value of $1,731,895.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Marshall Urist sold 13,684 shares of the business’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $53.06, for a total transaction of $726,073.04. Following the completion of the sale, the executive vice president directly owned 31,881 shares of the company’s stock, valued at approximately $1,691,605.86. The trade was a 30.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 155,893 shares of company stock valued at $7,512,360. 18.84% of the stock is owned by corporate insiders.

Royalty Pharma Price Performance

Shares of NASDAQ RPRX opened at $52.41 on Wednesday. The firm has a market cap of $30.18 billion, a PE ratio of 35.65, a PEG ratio of 1.43 and a beta of 0.40. The firm has a fifty day moving average of $48.58 and a 200 day moving average of $43.61. The company has a debt-to-equity ratio of 0.86, a quick ratio of 2.66 and a current ratio of 2.66. Royalty Pharma PLC has a one year low of $32.15 and a one year high of $53.47.

Royalty Pharma (NASDAQ:RPRX) last issued its quarterly earnings results on Wednesday, May 6th. The biopharmaceutical company reported $1.30 EPS for the quarter, topping the consensus estimate of $1.22 by $0.08. The company had revenue of $631.00 million during the quarter, compared to analyst estimates of $881.69 million. Royalty Pharma had a net margin of 33.88% and a return on equity of 29.25%. As a group, research analysts predict that Royalty Pharma PLC will post 5.05 EPS for the current fiscal year.

Royalty Pharma Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 10th. Investors of record on Friday, May 15th will be issued a $0.235 dividend. This represents a $0.94 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, May 15th. Royalty Pharma’s payout ratio is presently 63.95%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Citigroup raised their price target on shares of Royalty Pharma from $50.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Morgan Stanley raised their price target on shares of Royalty Pharma from $61.00 to $63.00 and gave the stock an “overweight” rating in a research report on Friday, April 10th. TD Cowen reissued a “buy” rating on shares of Royalty Pharma in a research report on Friday, February 27th. Weiss Ratings lowered shares of Royalty Pharma from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday. Finally, JPMorgan Chase & Co. raised their price target on shares of Royalty Pharma from $50.00 to $58.00 and gave the stock an “overweight” rating in a research report on Thursday, May 7th. Seven investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Royalty Pharma presently has a consensus rating of “Buy” and a consensus target price of $53.71.

About Royalty Pharma

Royalty Pharma plc is a specialty finance company that acquires biopharmaceutical royalty interests and provides non-dilutive financing to drug developers and rights holders. The firm purchases future royalty streams, milestone-contingent payments and other revenue rights linked to approved and late-stage pharmaceutical and biotechnology products. By paying upfront consideration for these rights, Royalty Pharma seeks to generate long-term cash flows tied to the commercial performance of a diversified portfolio of medicines.

The company’s transaction structures include outright royalty purchases, structured financings and milestone arrangements tailored to the needs of innovator companies, academic institutions and investors.